BlackRock sells $71.78 million in Bitcoin as ETF redemptions pile up
US spot Bitcoin ETFs recorded net outflows on October 16, with BlackRock’s IBIT accounting for most of the withdrawals. One report framed the move as BlackRock selling $71.78 million in Bitcoin, while another put Friday’s ETF withdrawals at about $82.4 million overall and Fidelity’s FBTC at about $10.6 million.
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Bitcoin ETF holders and traders would notice the change immediately because the funds finished Friday with net withdrawals, and IBIT was the main source of that flow. That puts BlackRock’s fund at the center of the day’s activity rather than a broad spread across issuers.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 3 days ago | Bitcoin and Ethereum ETFs Spark $200M Inflow Rebound event | 1 actors in common · 3 news media |
| 3 days ago | Bitcoin Price Defends $81.5K ETF Cost Basis Despite Rising Outflows event | 1 actors in common · 5 news media |
| 6 days ago | Bitcoin ETF Weekly Outflows Hit 3-Month High, Ethereum Funds Extend Losing Streak event | 1 actors in common · 6 news media |
| 7 days ago | Wall Street Is Pulling Money From Ethereum as Traders Load Shorts event | 1 actors in common · 2 news media |
| 10 days ago | U.S. Spot Bitcoin ETFs Post $487 Million Net Outflow on Oct. 7 event | 1 actors in common · 9 news media |
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